TIDMUPL

RNS Number : 4975F

Upland Resources Limited

21 February 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

21 February 2018

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Completion of Subscription by Tune Assets Limited

Further to the Company's announcement on 31 January 2018, the Board of Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that the subscription by Tune Assets Limited for 74,074,074 new shares of no par value in the Company (the "Subscription Shares") at 1.35p per share in cash to raise GBP1,000,000 (before expenses) for the Company, was completed this morning. Completion took place on the admission of the Subscription Shares to listing on the Official List (standard listing segment) of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities at 8.00am this morning.

The Subscription Shares represent 16.2% of the Company's enlarged issued share capital.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Company announces that it has 457,242,705 shares of no par value in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 457,242,705.

The above figure of 457,242,705 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

For further information, please contact:

 
 Upland Resources Limited                           www.uplandres.com 
 Steve Staley, CEO                           Tel: +44 (0)7891 677 441 
                                               s.staley@uplandres.com 
 Optiva Securities 
  Limited 
 Jeremy King (Corporate                      Tel: +44 (0)20 3137 1904 
  Finance)                           jeremy.king@optivasecurities.com 
 Christian Dennis (Corporate                 Tel: +44 (0)20 3411 1882 
  Broker)                       christian.dennis@optivasecurities.com 
 FTI Consulting 
 Edward Westropp                             Tel: +44 (0)203 727 1521 
                                    edward.westropp@fticonsulting.com 
 Flowcomms Ltd 
 Sasha Sethi                                        Tel: 07891 677441 
                                                  sasha@flowcomms.com

Notes

Upland is an upstream oil & gas company whose highly experienced management team has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercial skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 21, 2018 03:38 ET (08:38 GMT)

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